Foundation Medicine, the maker of a genetic profiling test for cancer doctors and researchers, saw a big stock boost Wednesday after its quarterly earnings report showed a continued increase in the number of tests and revenue during the last three months of the year.

The Cambridge, Mass.-based diagnostic company, which helps doctors find the right targeted treatment for a specific strain of cancer, painted a promising financial picture in pretty much all respects, considering the company just went public in September and has only had a product on the market for less than two years. Fourth quarter revenue was $9.7 million, beating the analyst consensus of $9 million and an 18 percent increase over the third quarter. The company reported an increase in the number of clinical tests delivered, too: 3,752 in the fourth quarter, versus 2,577 in the third. For the coming year, the company predicted nearly double the $29 million in revenue it saw during all of 2013, to between $52 million and $58 million.

But it was CEO Mike Pellini’s answer to a question on competition toward the end of a conference call with stock analysts Tuesday that showed the company’s confidence in its product more than any numbers. A J.P. Morgan analyst asked how its doing compared to competitors.

“First and foremost, understand that we launched more than 18 months ago and we have still a really meaningful lead,” said Pellini. “As we approach two years out from our commercial launch at outgoing 2012, we just really don’t see any comprehensive approach that’s competing with us in the market. We have seen other tests that are entering the market today ... (but) we describe these other tests that are much more narrow in breadth. They don’t have the same accuracy, and they don’t have the same completeness.”

As of 12:30 Wednesday, Foundation’s stock was trading at $35.83 a share, up more than 10 percent for the day and nearly double its IPO stock price last September. At that price, the company’s market capitalization is $1 billion.

Pellini said that the company has delivered more than 10,000 tests so far since it launched FoundationOne, and in December, it launched a second product aimed at blood cancers, FoundationOne Heme. That leaves a lot of room to grow, he said.

“We believe that the total addressable market for FoundationOne is approximately 1 million patients in the United States today, growing to nearly double that number over the next several years,” he said.

So far, three analysts have rated the stock with a "hold" rating and two rate it “buy.” The analysts’ consensus price target is $35.50.